Truist Financial (NYSE:TFC) is scheduled to be announcing its earnings results before the market opens on Thursday, April 15th. Analysts expect the company to announce earnings of $1.08 per share for the quarter. Individual interested in listening to the company’s earnings conference call can do so using this link.
Truist Financial (NYSE:TFC) last issued its quarterly earnings data on Wednesday, January 20th. The insurance provider reported $1.18 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.99 by $0.19. Truist Financial had a return on equity of 7.76% and a net margin of 16.95%. The firm had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.42 billion. During the same period last year, the company earned $1.04 EPS. On average, analysts expect Truist Financial to post $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.
Shares of Truist Financial stock opened at $59.43 on Thursday. The business has a 50 day moving average of $58.34 and a 200 day moving average of $49.42. Truist Financial has a 52 week low of $29.24 and a 52 week high of $61.26. The company has a market cap of $79.90 billion, a PE ratio of 20.21, a P/E/G ratio of 1.75 and a beta of 1.36. The company has a quick ratio of 0.91, a current ratio of 0.93 and a debt-to-equity ratio of 0.66.
The business also recently declared a quarterly dividend, which was paid on Monday, March 1st. Investors of record on Friday, February 12th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 3.03%. The ex-dividend date was Thursday, February 11th. Truist Financial’s dividend payout ratio (DPR) is currently 41.19%.
In other news, insider Clarke R. Starnes III sold 48,175 shares of the firm’s stock in a transaction dated Friday, January 22nd. The shares were sold at an average price of $51.06, for a total transaction of $2,459,815.50. Following the sale, the insider now owns 182,205 shares of the company’s stock, valued at approximately $9,303,387.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Cynthia B. Powell sold 2,201 shares of Truist Financial stock in a transaction that occurred on Tuesday, March 16th. The stock was sold at an average price of $58.31, for a total transaction of $128,340.31. Following the completion of the sale, the vice president now owns 2,133 shares of the company’s stock, valued at $124,375.23. The disclosure for this sale can be found here. Insiders sold a total of 237,094 shares of company stock worth $12,045,695 over the last ninety days. 0.35% of the stock is currently owned by insiders.
Several equities research analysts have recently commented on TFC shares. Truist cut shares of Truist Financial from a “buy” rating to a “hold” rating in a research report on Thursday, January 7th. Bank of America raised their price objective on shares of Truist Financial from $58.00 to $59.00 and gave the stock a “buy” rating in a report on Friday, January 22nd. Barclays upped their target price on Truist Financial from $59.00 to $64.00 in a report on Wednesday. Morgan Stanley raised their target price on Truist Financial from $65.00 to $68.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 30th. Finally, Stephens upped their price target on Truist Financial from $54.00 to $66.00 in a research note on Tuesday, March 30th. Nine investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $51.02.
About Truist Financial
Truist Financial Corporation, a holding company, provides banking and trust services in the Southeastern and Mid-Atlantic United States. The company operates through three segments: Consumer Banking and Wealth, Corporate and Commercial Banking, and Insurance Holdings. Its deposit products include noninterest-bearing checking, interest-bearing checking, savings, and money market deposit accounts, as well as certificates of deposit and individual retirement accounts.
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